Birla Sun Life Mutual Fund has started an open-ended gold exchange-traded fund, Moneycontrol reports. The Birla Sun Life Gold ETF will generate returns in line with the performance of gold, subject to tracking error. The scheme, which will be benchmarked to the domestic price of physical gold, will invest 95%-100% in physical gold and may also invest about 5% in debt and money market instruments. The passively managed fund will be managed by Satyabrata Mohanty.
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